Sequoia declined to comment but said in messages on Twitter that it is complying with the investigation.

“Sequoia has adopted a policy of full compliance with that investigation & has dutifully responded to governmental inquiries recd (sic) to date. We continue to co-operate with the ongoing investigation on Vasan,” it said.

It added that it was a minority investor, along with others, in Vasan Healthcare.

Reports in the online media had linked the raid to the alleged violation of foreign exchange rules in the Aircel-Maxis deal. Karti Chidambaram, son of former finance minister P Chidambaram, is also alleged to have had financial interest in the Aircel-Maxis deal.

Multiple government agencies had been investigating into numerous deals undertaken by Karti Chidambaram and established that Sequoia Capital was allegedly “roped in” for misuse of the foreign direct investment policy.

Earlier, ED along with the Income Tax Department had conducted searches at Vasan Healthcare and Advantage Strategic, a consulting firm which is also being investigated for violating foreign exchange laws.

Curious, Keen Observant & Dynamic! Chinmay finds peace in meeting people who work hard for humanity. He has new found interest in Gadgets and Techs and at Techstory he gets to learn and write about it!